According to the report titled ‘Global Waterjet cutting Machine Market Size, by Product type (3D, Micro and Robotic waterjet cutting machines), by Application (Exotic Metal & Non-Traditional Material Cutting, Ceramic/Stone Cutting, Glass/Metal Art, Gasket Cutting, Fiberglass Cutting and Foam Product Cutting), by End-use Industries (Electronics, metal fabrication, automotive, aerospace, food processing, textile and machine manufacturing and medical devices) and Regional Forecasts 2020-2027’, available with Market Study Report, global waterjet cutting machine market was valued at USD 0.97 billion in 2019 and is projected to expand with a CAGR of 6.25% during 2020-2027.
 

Surging demand from automotive sector owing to incremental vehicle fleet as well as integration of latest features in automotive, along with surging production of passenger vehicles are driving the growth of global waterjet cutting machine market.
 

Notably, water cutting machine is used in the manufacturing sector for accurate and precise cutting. In addition to the combination of abrasives and water, the system uses high pressure water jets to cut delicate, light, or permeable materials.
 

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As per the International Organization of Motor Vehicle Manufacturers (OICA), in 2017, approximately 73.45 million units of passenger cars were produced globally, as compared to 72.10 million units in 2016. In addition, the largest producer of passenger cars was China, in 2017, with 24.80 million passenger cars, as compared to 24.42 million units in 2016. Similarly, more than 2.69 million passenger cars were manufactured in Brazil in 2017, up from 1.77 million units in 2016. Escalating sales and subsequent surge in production of automobiles are boosting the demand for waterjet cutting machine, facilitating the business scenario.
 

However, high ownership costs and lack of technical expertise are likely to act as restraining factors for worldwide waterjet cutting machine industry landscape over the estimated timeframe.
 

Citing the regional landscape, global waterjet cutting machine market sphere is segmented into North America, Asia Pacific, Latin America, Europe, and Rest of the World. The report claims that North America currently accounts for a significant market share and is projected to grow further over the analysis period, owing to growing steel sector.
 

Meanwhile, Asia Pacific industry is anticipated to register decent growth during 2020-2027, on account of flourishing automotive sector and surging demand from wind energy vertical.
 

Major contenders impacting global waterjet cutting machine market dynamics are Semyx LLC, Koike Aronson Inc., WARDJet, Inc., A Innovative International Ltd., Hornet Cutting Systems, KMT Waterjet Systems Inc., Omax Corporation, Flow International Corporation, Lincoln Electric Holdings Inc., and Colfax Corporation.